SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill, This news data comes from:http://www.yamato-syokunin.com
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
- Villanueva: Regularize contractual govt workers
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- No winner in lotto draws for Aug 28
- Marcos opens WorldSkills Asean competition
- Makati distributes Blu Card cash aid
- CFO moves office from QC to Pasay
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- PH Army showcases disaster response capabilities before Thai defense officials
- Search for survivors after Afghan earthquake kills 800
- Wife and ally of ousted SKorean president indicted by special prosecutors
